World record price!

You mean Christies?

I think you should research that statement. I have not seen a collectible or art commission of 5% for decades. I just paid 18% on a lot I won.

 

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LOL sorry I meant Christies. Moodys is a credit rating agency. I must have had them on my mind. I am not denying there can be large commissions but I would imagine you didn't buy a $10,000,000 piece. Commissions go down as the final price is higher.

 

The coin market for "high end" investment pieces is still strong but ..................... other areas are taking a beating. I don't thing I'd equate a high end coin dealer purchasing a high dollar piece as a market indicator unless they could flip it for a profit in a short period of time.

 

I agree. If I were an auctioneer, I'd waive the seller fee's if I felt that the sellers piece would attract other seller's and bidder's.

Then I'd write off the difference.

 

http://www.christies.com/features/guides/buying/buyers-premium.aspx

For anything except wine sales, I don't see a lower commission rate here than 12%.

 

I understand there may be a large buyers premium but do we know if Stacks kept the entire BP. As you said there can be a negative commission.

 

But the buyer would still be paying it, the negative premium I talked about was on the seller side. It would not change the total costs to the buyer.

 

who pays 8.5 million dollars for a COIN!!! it would be cheaper to buy a time machine!!!

 

I agree that premium for seller is lower than for buyer, but I think it's not zero.

This is the coin that Cardinal Collection bought from Steve Contursi, in May 2010, for $ 7,850,000.
Now, they sell for $ 8,525,000, difference $ 675,000 (in percentage 8%).

If the seller premium is equal or more than 8%, what really remain for Cardinal?

petronius :smile

 

Anything is possible. Auction houses get creative just for the right to sell some coins. In some cases the seller can walk away with more than the hammer price.

 

He made just over 4% compounded annually so he did just a little better than inflation. And I am sure if you bring them an 8.5 million dollar coin not only do they wave the sellers commission but I'm sure he got better than 100% of the hammer price. After all smaller consignors are able to get that kind of a deal so I'm sure Martin did as well. (Not to mention the rest of the high power material he consigned to the sale.)

 

Auctions houses negotiate the seller's fee and yes, sometimes the buyer's fee( a % of it) is given to the seller. It takes a big item or VERY good client to receive part of the buyer fee.

 

Auction video

http://www.youtube.com/watch?v=loypv9U0ZDc

petronius :smile